My Debt Story

A lot of college students graduate with debt. I am one of them.

I’ve worked one or two jobs since I was 14. Despite my work ethic, I love to spend and I did not budget college well. I enjoy shopping, traveling to see my family and friends or to explore a new place, going out to eat, and surprising friends with thoughtful gifts. However, I’ve never had a strong income to support my spending. I started a roller coaster 2 years ago when I began learning about how to curb my spending habits and to teach myself about smart financial decisions.

I’m in no way an expert on finances so my way is not necessarily the right way. I am continually open to changing my spending plan for what works for me.

Here’s my current spending plan:

  • I moved back in with my parents to save money. I use my paycheck to cover all of my expenses, add to savings, and pay $500/month extra towards my debt minimums.
  • I also babysit regularly, run Katie Pelton Resumes, and do any extra work I can, which all goes towards debt.
  • I allow myself a $100/paycheck allowance to have some fun, buy presents, or enjoy a glass of wine or two after all my hard work!

Since taking extreme measures on January 1, 2013 here’s my progress:

Debt April 2013

As of May 1, 2013

I’m always looking for ways to educate myself on money management, ways to earn money and/or save money, and inexpensive ways to shop and have a social life. Similar to my old blog, I’ll post on occasion about my financial info and progress when I have it.

5 Responses to My Debt Story

  1. Syndal says:

    I’m with ya girl..I’ll definitely be following along to see how it goes. My debt right now after college, plus grad school, plus a wedding, plus credit cards…so not good šŸ˜¦

  2. Bridget says:

    Hi…I am a fellow MN blogger!!! I saw you on the MN blog today and had to come over when I see the word ‘get out of debt’!!! AHHH…I love that you are a Dave Ramsey follower! I love him!! My husband and I have been doing his baby steps for a year now! We are almost done with baby step 3…will be in March!! New follower here šŸ™‚

  3. Meg says:

    New follower too (fellow MN Blogger also) – excited to read about your debt story and watch your progress. My husband and I are working to pay down student loans and just started with Dave Ramsey’s system too.

  4. Stephanie says:

    Hi! I just found you on the MN Blogger website! I too would like to be debt free soon, hopefully before I turn 30! I took that home owners class that you’re talking about in other posts and found it very educational. Just need to sit down and talk with a mortgage officer! Hope the house hunting is going well!

  5. Marlene says:

    Keep it up! My husband and I are on baby step 2 also. Can not WAIT to be done with it! Living an intentional life offers so much more peace then the previous one I was living. Enjoy!

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